Sanlam Investments has launched a UCITS-compliant fund that will invest in companies deemed to have potential to "harness the power of AI".
The Asia Pacific Artificial Intelligence fund is managed by Chris Ford and Giles Worthington, and will have its own bespoke AI application Orbit built into the investment process.
A sister fund of the £800m Sanlam Artificial Intelligence Fund, the portfolio will focus specifically on companies in the Asia Pacific region where AI is already embedded in everyday life while using the same investment approach.
The team believe that "the world is at the start of the adoption" of artificial intelligence, and that companies able to harness its power will enjoy "considerable competitive advantages".
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Ford said: "Asia is at the leading edge of the revolution so it was natural to launch a fund with the capability of targeting companies specifically in this geographic area, which we believe will enjoy considerable competitive advantages."
Chris Rodgers, head of investment and risk at Sanlam Investments, added: "An investment in AI is an investment in exceptionally strong businesses that are likely to remain relevant in the future, so we are extremely excited to bring this innovative fund to the market."
According to the firm, the Ireland-domiciled UCITS fund is MSCI ESG-rated A and will be available in a variety of share classes and at a reduced founder fee for a limited time.
